Spindex Industries

The company’s revenue contracted by 13.2% y-o-y to $94.2 million in 1HFY2023.

The closure is expected to have a negative impact on Spindex’s financial performance for the FY2022.

The company plans to pay a dividend of 4.5 cents, up from 2.8 cents paid for FY2020

Spindex was highlighted as one of The Edge Singapore’s stocks to watch in Issue 970 for its attractive valuations.

Given its cheap valuations, Spindex is expected to remain an attractive target for privatisation, in line with industry trends.

Spindex Industries, a manufacturer of precision machine components and assembly solutions provider has entered into a joint venture agreement with Acuger Precision Limited and Spindex Acuger Precision (JV Company) on Thursday.

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